Miniature smart cards compliant with the GSM 11.11 Standard, are commonly referred to as SIM (Security Identity Module) or SAM (Secure Access Module) cards. These devices have the same I/O pad configurations and capabilities as a standard ISO (CNet) smart card. The SIM or SAM cards, because of their small size, can be installed inside a financial transaction terminal for verification, password, registration, billing information or as an electronic purse, where monetary values can be transferred to and from the smart card. Both the SIM and SAM cards have special adapters for attachment to a circuit board for receiving the card and electrically connecting the card with the circuit board. In this way, the circuit board communicates directly with the card which is removable. The user, from time to time, may need to replace the SIM or SAM card and as such, requires access to the acceptors. For example, these cards can be used as an electronic purse which is replaced by the user, when the old one is full. Financial terminals which are smart card compatible have become increasingly popular for point of sale transactions. Similarly, debit fund transfer systems are becoming quite common. A single terminal which is compatible with both systems would be desired.
In a debit system, PIN entry is required as a means to identify the legitimate user. This PIN is protected by encrypting the PIN and data which is received by the unit or sent by the unit. In addition to this electronic coding, the common standards, such as INTERAC and VISA, require certain physical security to protect against unauthorized entry to the unit. Financial transaction terminals for debit card transactions have an electronic switch arrangement which shuts down the unit if the housing of the financial transaction terminal is separated exposing the enclosed circuitry and software.
The debit card security approach is desirable, however, it is also desirable to have a device with SIM or SAM cards for recordal of certain information directly in the device while allowing a user access to these cards. The present invention combines these two capabilities and while providing effective security for the financial transaction device.